2023-04-27 07:01:00 ET
If you're an internet business looking to make inroads into new markets, what better way to do so than by offering high-speed internet access to those targeted markets? That appears to be the approach Amazon (NASDAQ: AMZN) is taking.
In his second annual shareholder letter, Amazon CEO Andy Jassy provided some updates on the Project Kuiper satellite internet service. Amazon's plan to launch a low-Earth orbit (LEO) satellite internet puts it in competition with Elon Musk 's StarLink, which is a subsidiary of SpaceX.
The problem for investors is that SpaceX is not a public company like Tesla , another Musk venture. This means that the for the vast majority of would-be investors, buying shares of StarLink isn't an option. But: If you're interested in betting on the emergence of the space economy, Amazon stock could be a great investment.
For further details see:
Wish You Could Invest in Elon Musk's StarLink? Here's 1 Way to Invest in Space Internet Now